Binance and Circle Partner to Boost USDC Adoption Among 240 Million Users

Dec 11, 2024, 12:15 PM

Binance, the world's largest cryptocurrency exchange by trading volume, has entered into a strategic partnership with Circle, the issuer of the USDC stablecoin, to enhance the global adoption of USDC. Under this partnership, Binance will integrate USDC into its full range of products and services, allowing its more than 240 million users worldwide to trade, save, and make payments using the stablecoin. This move is expected to reduce the premium on USDC and aid Binance's compliance and payment operations. Additionally, Circle has expanded its operations in the Middle East and North Africa (MENA) region, while Binance is likely to apply for MiCA CASP authorizations in France to issue USDC as e-money tokens under the Markets in Crypto-Assets (MiCA) regulation. Ripple's stablecoin, RLUSD, has also received approval in New York.